Morningstar: aandeel in de kijker is MasterCard Inc (24/5/2014)

MasterCard's Wide Moat, Strong Growth, and Capital Discipline Impress Again in 1Q

In our view, the MasterCard network functions as a tollbooth on financial transactions, generating a small amount of revenue from every transaction that runs through its network, and every dollar of payments made using the MasterCard brand. At present, we estimate that about 85% of global transactions are still made with cash. We expect that MasterCard will eventually process a much larger share of these transactions, resulting in healthy top-line growth for years to come. MasterCard's global presence strengthens this tailwind even further--well over half of revenue is generated outside the United States. Over the next decade, we expect the economies of developing nations to grow faster than those of developed nations, we expect consumer spending to grow within those economies, and we expect those consumers to move away from cash at a rapid rate. We therefore think little can stand in the way of MasterCard's expansion, especially in the near term.

.Lees het volledige rapport

Meer actuele koersen vindt u hier